The dollar index (DXY00) today is down by -0.40%. Comments today by Treasury Secretary Bessent sent T-note yields lower and weighed on the dollar when he said any move by the Treasury to boost the share of longer-term Treasuries in government debt issuance is a “long way off.” The dollar also came under pressure after weekly US unemployment claims rose more than expected and Jan leading indicators fell more than expected, which are dovish factors for Fed policy. The dollar saw support today from US tariff threats and weakness in stocks, which boosted liquidity demand for the dollar.
US weekly initial unemployment claims rose +5,000 to 219,000, showing a weaker labor market than expectations of 215,000.
